Office-sharing startup WeWork India lays off 20% of workforce as COVID-19 lockdowns weigh; eyes to be profitable by early 2021
In October last year, WeWork India’s chief shareholder Jitu Virwani had said the company would be profitable by end of 2020.
Entrepreneurs should not make the unicorn status the measure of their success, says InfoEdge co-founder
Startups should aim for customer satisfaction, unit economics, profitability, and not unicorn status.
SoftBank's $3 billion WeWork financing talks stall with Japan banks; complicates $9.5 bn rescue package: Report
SoftBank in October said it would launch a $9.5 billion bailout of WeWork after the cancellation of the startup’s initial public offering
Oyo unlikely to make profit in India, China until 2022; reveals six-fold rise in losses during fiscal year 2019
The losses highlight rapid expansion by Oyo into China, the US, the UK and other markets, which has made the six-year-old startup one of the world’s biggest hospitality brands by room count.
The layoffs began weeks ago overseas and continued this week in the United States, WeWork said.
Uber has entered new era of focussing on profits, CEO Dara Khosrowshahi feels he's the right guy for the company now
Khosrowshahi said Kalanick had done “an incredible job” of building the company. But Uber has entered a new period of focusing on profits.
Is fall in equity mutual funds inflow a reason for worry, it’s time to focus on economy; read this and more on Moneycontrol Pro
Data released by the Association of Mutual Funds in India show that inflows into equity mutual funds were at their lowest levels in four months in October 2019.
Uber faces huge losses as it is currently struggling to win investor confidence.
To stem WeWork's bleeding, SoftBank will need to reverse its losses and find a way to make it profitable.
Sources reveal that SoftBank will provide $5 billion in new money to WeWork in the form of debt.
Hotel operators who partnered with Oyo call it 'biggest online fraud', demand criminal probe against Softbank-backed startup now poised to raise $1.5 bn
Founded in 2013, Oyo started by aggregating bookings for India’s budget hotels, promising a standard of service in a market where that was more often the exception
Oyo charges hotels a roughly 20 percent franchise fee on room revenues, but some Indian hotel operators say it ends up taking half or more of revenues
SoftBank-backed Oyo is in the market to raise about $1bn; looming deal will spawn another Indian unicorn
Oyo is reportedly in talks with two consortia to raise between $500 million and $1 billion.